Posted at 1:27 PM on March 1, 2012
by Paul Tosto
Filed under: Sport
Below is the "Overview of Stadium Development and Operating Terms" on the proposed Vikings stadium. It's the detail on how the deal is supposed to work.
Here's some interesting stuff. Take a look below and tell us what you find.
Dome? Fixed roof (with an option to modify to a Retractable roof without any increase to the funding provided by State or City). Sheet says a retractable dome would add $25 million to the cost.
Public Money? State of Minnesota appropriations bonds and "other funding sources" totaling $548 million, repaid largely from money generated through the City of Minneapolis "Convention Center Taxes" ($150 million) and expansion of State authorized charitable gaming to include electronic "Pull‐tab" and other allowable gaming (supporting approximately $398 million in financing).
Cost overruns? Stadium authority (i.e., the public) is responsible for cost overruns associated with development of the stadium project
Seats? Approximately 65,000 (expandable to 72,000). Approximately 150 suites and 7,500 club seats